Samsung Claims that Rumors of a Partnership with CopPay are Fake

Recent rumors of Samsung offering crypto payments in three of the Baltic countries have been strongly denied by the company.

Samsung isn’t partnering with CopPay after all

Not too long ago, a new rumor appeared online, claiming that the blockchain startup from Lithuania is about to score a large partnership with electronics giant Samsung. The partnership was supposed to allow Samsung’s customers in three Baltic countries to buy electronic devices via cryptocurrencies.

However, as soon as the news of the partnership actually reached Samsung, the company’s spokesperson quickly denied them. The official response of the company is that the rumors are fake and that the partnership negotiations are non-existent.

Originally, the announcement of this partnership came from CopPay’s Medium blog, where the startup published a post with all the mentioned details and more. After Samsung denied the partnership, the post was deleted. However, if the partnership was true, CopPay would have the responsibility to install merchant gateways that would support crypto payments in 31 Samsung stores.

Additionally, the deal, as reported by CopPay, was to support a number of cryptos, including Bitcoin, Litecoin, Nem, Ethereum, Ripple, Steem, and Dash. Though obviously fake when considering Samsung’s reaction to it, the announcement looked completely legitimate when it first appeared. So far, CopPay has not released an explanation as to why they would issue a fake announcement.

Partnership is fake, but not impossible

Such fake announcements are not really unheard of in the crypto industry. In fact, a lot of them have appeared lately, with a supposed deal between BMW and carVertical being one of the most recent ones. Another deal that has had everyone hyped, but turned out to be fake, was the presumed partnership between Microsoft and IOTA, which was debunked by Microsoft soon after.

However, there is no confirmation that Samsung is absolutely against ever approaching cryptocurrencies or blockchain tech. In fact, according to reports from earlier this year, Samsung might already be looking into blockchain tech. If so, it would make perfect sense, since this tech might help with managing the company’s supply chain.

Samsung’s IT and logistics unit, Samsung SDS, has stated that implementing blockchain technology could lead to some significant cost reductions. In act, they predict that shipping and logistics costs might be cut up to 20% if done via blockchain. Because of this, there have also been claims that Samsung Electronics might be looking into adopting blockchain solutions.

Song Kwang-woo, the Blockchain Chief and Vice President of Samsung SDS, has stated that this tech could have a very large impact on the manufacturing industries’ supply chains. According to him, blockchain technology is the perfect base for managing a complete revolutionization of the digital world.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

How Can Foreigners Get Loans in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.

What defines a foreigner in Singapore?

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…

CoinFlip Scores Big with BRD Wallet Partnership

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…